Natural Gas News – March 14, 2023
Natural Gas News – March 14, 2023
US NatGas Futures Jump 7% On Rising Flows To LNG Export Plants
U.S. natural gas futures jumped about 7% on Monday on forecasts for demand to rise next week with the amount of gas flowing to U.S. liquefied natural gas (LNG) export plants on track to hit a record high for the month. Prices jumped despite a 5% drop in crude futures earlier in the day and forecasts for less cold weather over the next two weeks than previously expected. Front-month gas futures for April delivery rose 17.6 cents, or 7.2%, to settle at $2.606 per million British thermal units (mmBtu). On Friday, the contract closed at its lowest since Feb. 23. Oil prices fell on Monday along with equities as the collapse of Silicon Valley Bank raised fears of a fresh financial crisis. The gas market has been extremely volatile in recent weeks as traders bet on the latest weather forecasts. The front-month fell to… For more info go to https://yhoo.it/3ZO0Nqq
US NatGas Flows To Freeport LNG’s Export Plant In Texas Rise
March 9 (Reuters) – The amount of natural gas flowing to U.S. liquefied natural gas (LNG) company Freeport LNG’s export plant in Texas was on track to rise on Wednesday and Thursday following a drop on Tuesday after the plant exited an eight-month outage in February. Stay ahead of the market Gas flows to the plant were on track to rise to 0.8 billion cubic feet per day (bcfd) on Wednesday and Thursday after dropping to 0.2 bcfd on Tuesday, according to data provider Refinitiv. The plant shut after a fire in June 2022 and gas flows to the facility peaked at about 1.7 bcfd on March 5, the Refinitiv Eikon data showed. When operating at full power, Freeport LNG, the second-biggest U.S. LNG export plant, can turn about 2.1 bcfd of gas into LNG for export. One billion cubic feet of gas is… For more info go to https://yhoo.it/3yyRb7b
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